This former Disney exec's podcast company generates 100 million monthly downloads
My newsletter: https://simonowens.substack.com/ The podcast company Sonoro launched in 2020 with a relatively simple thesis: that there were very few media companies geared toward the 62 million latinos within the US. Over the next four years, it built out a stable of dozens of podcasts across several formats ranging from serialized nonfiction to personality-led chat shows. In addition to the standard podcast monetization models, it also sought to further capitalize its IP by selling adaptations to Hollywood studios and developing its own merch lines. Today, the network generates over 100 million monthly downloads and works with some of the world’s biggest latino creators. In a recent interview co-founder Joshua Weinstein explained how the company partners with talent and walked through all the ways it’s monetizing its IP.
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How to sell your media business
My newsletter: https://simonowens.substack.com/ When the media covers business acquisitions, it’s usually only for huge deals involving VC-backed companies. Coverage of mergers for small, bootstrapped businesses is almost nonexistent. That’s where They Got Acquired comes in. Launched in 2021, it focuses on acquisitions in the $100,000 to $50 million range. Recently, it put out a detailed research report specifically focused on acquisitions of media outlets, which are typically sold at lower multiples than other kinds of online businesses. In an interview, founder Alexis Grant walked through the experience she had selling two of her own media outlets and explained the steps a current media entrepreneur should take to maximize the selling price for their own business.
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News nonprofits need to spend more time courting rich donors
My newsletter: https://simonowens.substack.com/ Given the tumultuous economic landscape for local news, many outlets are turning to nonprofit models because they offer increased flexibility for generating revenue. But while these outlets have been adept at attracting foundation grants and small donor memberships, they’re not doing enough to cultivate relationships with the wealthy members of their own communities, many of whom can write much larger checks than your average reader. At least that’s the thesis of Julie Rafferty. She not only has a deep background in consulting with nonprofits, but she also played an instrumental role in co-founding Brookline News, a nonprofit media outlet that operates outside of Boston. In a recent interview, Rafferty walked through how she got wealthy members of her city to fork over $100,000 before the outlet even launched, and she gave some good advice on how other nonprofit newsrooms can identify and reach out to rich people in their own communities.
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How media outlets can use games to increase their revenue
My newsletter: https://simonowens.substack.com/ If you work in the media industry, you’re likely aware of The New York Times tremendous success with its gaming vertical; in fact, millions of people subscribe solely so they can play games like Wordle and Connections. But it’s not the only publisher that’s incorporated games into its business strategy. Hundreds of outlets ranging from Morning Brew to The New Yorker utilize a platform called Amuse Labs to build everything from crosswords to sudoku. In a recent interview, co-founder John Temple explained how publishers can leverage games to increase everything including time on site, repeat visits, advertising revenue, and paid subscription conversions.
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His media company reaches more New Yorkers than the New York Times
My newsletter: https://simonowens.substack.com/ You’ve probably never heard of Schneps Media, but if you live in any of the five boroughs of New York, you’ve probably encountered its content. Started as a single Queens newspaper in 1985, the company gradually bought up community news outlets all across New York, and it’s since expanded into Philadelphia and even Palm Beach, Florida. It not only targets audiences by locale, but also ethnicity. And most of its news is completely free to read. How has the company continued to grow despite so many headwinds in local news? To answer this question, I spoke to CEO Josh Schneps. He told the story of how his mother launched that first Queens newspaper and explained why businesses continue to advertise with him despite having plenty of other options.
South Africa